SkyWest (SKYW) Price Target Raised to $62.00

SkyWest (NASDAQ:SKYW) had its price objective increased by equities research analysts at Cowen from $60.00 to $62.00 in a research note issued on Friday, MarketBeat.com reports. The firm presently has an “outperform” rating on the transportation company’s stock. Cowen’s price objective suggests a potential upside of 15.46% from the company’s current price.

Several other analysts also recently issued reports on the company. Raymond James Financial increased their price target on SkyWest from $62.00 to $65.00 and gave the company a “strong-buy” rating in a report on Wednesday, January 24th. Zacks Investment Research upgraded SkyWest from a “hold” rating to a “strong-buy” rating and set a $57.00 price target for the company in a report on Thursday, January 11th. BidaskClub downgraded SkyWest from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. ValuEngine upgraded SkyWest from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Finally, Imperial Capital increased their price target on SkyWest from $38.00 to $47.00 and gave the company an “in-line” rating in a report on Tuesday, October 31st. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and four have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $56.00.

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Shares of SkyWest (NASDAQ:SKYW) traded down $0.45 during midday trading on Friday, reaching $53.70. The company had a trading volume of 141,739 shares, compared to its average volume of 325,378. SkyWest has a 52-week low of $30.40 and a 52-week high of $58.00. The firm has a market cap of $2,739.88, a P/E ratio of 6.65 and a beta of 1.78. The company has a current ratio of 1.21, a quick ratio of 1.09 and a debt-to-equity ratio of 1.36.

SkyWest (NASDAQ:SKYW) last announced its quarterly earnings results on Thursday, February 1st. The transportation company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.10. SkyWest had a return on equity of 12.08% and a net margin of 13.39%. The firm had revenue of $797.20 million during the quarter, compared to the consensus estimate of $778.13 million. During the same period in the prior year, the firm earned $0.54 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. equities analysts predict that SkyWest will post 4.28 earnings per share for the current fiscal year.

In other news, COO Michael B. Thompson sold 1,476 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $51.45, for a total transaction of $75,940.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jerry C. Atkin sold 110,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $48.10, for a total value of $5,291,000.00. The disclosure for this sale can be found here. Insiders have sold 143,605 shares of company stock valued at $7,011,246 over the last 90 days. Insiders own 3.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Amalgamated Bank grew its stake in shares of SkyWest by 1.6% during the second quarter. Amalgamated Bank now owns 6,926 shares of the transportation company’s stock valued at $243,000 after acquiring an additional 110 shares in the last quarter. Stifel Financial Corp grew its stake in shares of SkyWest by 1.2% during the second quarter. Stifel Financial Corp now owns 18,898 shares of the transportation company’s stock valued at $662,000 after acquiring an additional 224 shares in the last quarter. Suntrust Banks Inc. grew its stake in shares of SkyWest by 3.5% during the second quarter. Suntrust Banks Inc. now owns 8,419 shares of the transportation company’s stock valued at $295,000 after acquiring an additional 286 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of SkyWest by 10.4% during the second quarter. Ameritas Investment Partners Inc. now owns 4,455 shares of the transportation company’s stock valued at $156,000 after acquiring an additional 419 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of SkyWest by 1.8% during the second quarter. The Manufacturers Life Insurance Company now owns 39,390 shares of the transportation company’s stock valued at $1,383,000 after acquiring an additional 712 shares in the last quarter. Institutional investors own 90.34% of the company’s stock.

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SkyWest Company Profile

SkyWest, Inc is the holding company for two scheduled passenger airline operations and an aircraft leasing company. SkyWest’s airline companies provide commercial air service in cities throughout North America with nearly 3,000 daily flights carrying more than 53 million passengers annually. SkyWest Airlines operates through partnerships with United Airlines, Delta Air Lines, American Airlines and Alaska Airlines.